Merpati Struggles to Pay its Debts

PT Angkasa Pura I has revealed that the debt owed to them for airport charges by PT Merpati Nusantara Airline has reached Rp. 38.4 billion (US$3,84 million).

According to Bisnis.com, the head of corporate administration for PT Angkasa Pura I, Harry Budi Waluyo, said that state-owned Merpati also has debts for aeronautic services due to a number of airports managed by Angkasa Pura I and Angkasa Pura II.

Waluyo told Bisnis.com, “The total debt of Merpati includes the cost of services for landing fees at various airports.”

Harry reported that according the finance department of Angkasa Pura I, that after reconciliation on June 30, 2012 the total debt of Merpati totals Rp. 38.4 billion.

Harry said Angkasa Pura I supports plans by the management of Merpati to settle its debts and restructure the company. To this end, he added, Angkasa Pura will follow all instructions issued by the Ministry of State-Owned Enterprises (BUMN) in order to resolve the financial problems of Merpati.

Continuing, he said Angkasa Pura was prepared to accept regular installments of its outstanding debt from Merpati or, alternatively, have the airline’s debt converted into shares.

“We'll just follow the rules of the BUMN Ministry, as we are both State-owned companies,” said Harry.